Bloomberg, Oct. 7, 2020–Christopher Maloney“That has been one of the most surprising aspects of this entire episode,” Mike Fratantoni, MBA senior vice president and chief economist, said in an interview …
Category: Top National News
Commercial Property Foreclosures Are Poised to Rise as Covid-19 Lingers
Wall Street Journal, Oct. 6, 2020–Konrad Putzier (subscription)Many lenders now expect the pandemic and its aftereffects to persist for a long time. As forbearance periods expire, more lenders are going …
A Broader Outreach Strategy Would Help 400,000 Needlessly Delinquent Mortgage Borrowers
Urban Institute, Oct. 5, 2020–Michael Neal, Laurie GoodmanThe authors discuss their attempt to better understand the 400,000 mortgage borrowers who are not taking advantage of the forbearance option offered by …
Owners of Westin Cleveland Downtown, Already Mired in FBI Probe, Face Mortgage Foreclosure Lawsuit
Cleveland.com, Oct. 5, 2020–Eric HeisigOptima 777 owes $35 million in the unpaid principal of a mortgage for the 484-room St. Clair Avenue hotel, as well as nearly $500,000 in interest …
U.S. Commercial Bankruptcies Up 33% Year to Date
Reuters, Oct. 5, 2020–Dan BurnsU.S. commercial bankruptcy filings are up 33% so far this year with new cases in September surging by 78% from a year earlier as the recession …
Non-QM Mortgages For Business Owners Are On The Rebound
National Mortgage Professional, Oct. 5, 2020–Navi PersaudThe COVID-19 pandemic brought the non-qualified mortgage lending space to a screeching halt but the rebound has been underway in recent months, showing signs …
Homeowners Are Exiting Forbearance, But Not in the Ways You’d Expect
MortgageOrb, Oct. 5, 2020–Matt TullyThe article addresses three reasons homeowners have been exiting forbearance and tie this activity back to extensions, and what may be driving these exit behaviors and …
Mortgage Boom Raises Fears Lenders Will Turn Lax
National Mortgage News, Oct. 5, 2020–Jim Dobbs (subscription)Low rates and intense competition might lead some banks to ease underwriting standards in 2021, when the economy may not yet have recovered.https://www.nationalmortgagenews.com/news/mortgage-boom-raises-fears-lenders-will-turn-lax
Regal Cinemas Likely Suspending Operations at All U.S. Locations
Wall Street Journal, Oct. 4, 2020–R.T. Watson (subscription) Second-largest U.S. cinema chain weighs closing doors again as high-profile movies vacate calendar. https://www.wsj.com/articles/regal-cinemas-likely-suspending-operations-at-all-u-s-locations-11601793090?mod=hp_lead_pos4
‘Enigmatic’ CFPB Chief Could Drop More Surprises in a Second Trump Term
American Banker, Oct. 2, 2020–Kate Berry (subscription) Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue …